All Forum Posts by: Nathan Kapusta

@Bjorn Ahlblad So do I have to have someone personally guarantee the lease? Does the tenant go on the normal application like always, or is there a different kind of application?

Hello all, first time landlord here. Just renovated the first side of a duplex, spent $10,000 on a $200,000 duplex and raised rent from $600 to showing 5+ applicants this weekend @ $1,200/mo. One of the people interested in the property owns a local company and wants to do a company lease on the property. They asked if they would accept that, but I have no idea how I would take an application from them and Google hasn't helped :( 

Does anyone have experience in this area that can help out? They want a 6-month lease; is it better to take that from a company that would presumably be more solid of a tenant than the average renter? Should I avoid it all together and just take regular applicants? Any advice, and especially an example of a company lease, would be much appreciated! 

Thanks in advance!

Thanks that helps a lot!

Hello all,

I am looking into buying an investment property with one of my friends, and I feel that it is necessary to get everything on paper, just in case. What is the best way to do a partnership for a small real estate deal? LLC? Corp? Standalone contract? Any and all advice is much appreciated!

Cool deal! How are the returns? Any Reno/repair costs needed immediately? Also, so you set aside an initial amount for those things?

Congrats!

 Yeah I should have mentioned it's because my sister is going to live in one of the units, so we're going to try it with the other side. It'll be easier since she'll be on-site to manage. If it's easy+successful, we'll probably try more in the future. Looking for deals right now.

My parents and I were thinking of doing this in the Chattanooga area, especially near the college. I don't see why it wouldn't work - my sister, who has a master's degree and has worked in student housing her whole life, agrees. I believe we're going to try it on our next multifamily purchase in the area. 

Hi Inessa,

I'm in Santa Clarita, and in the process of buying a small ranch house in Acton (halfway between SCV and Palmdale). I just started investing, but I would love to get to know other investors in the area! 

^That's a pretty condescending reply that provides no substance except for putting her down to make yourself feel superior. I'm sure glad most of the people on BP aren't like you; they're supportive and encouraging. 

I live in Santa Clarita, but ended up investing out of state for a number of reasons. I agree - I've analyzed properties around here and they're pretty break-even or even negative. I know there are definitely places in CA where you can achieve positive cashflow - Bakersfield is one, for example... but I don't think I'll be in any rush to buy rentals in CA because the laws scare the crap out of me. I would hate to get stuck with a squatter and not be able to do anything about it. The lease for my current tenants that I inherited doesn't mess around. One day late with rent, $35 fee. 5 days late, $150 fee (this is on a $800/mo lease, btw). 10 dates late, EVICTION. It's a different world out there for investors outside of CA...